What Are the Unseen Challenges in Managing the Surge of New Dwellings in Strata?

The Elephant In The Room Property Podcast | Inside Australian Real Estate

Are we adequately prepared for the consequences of the rapid surge in apartment construction and the subsequent increase in strata dwellings?

As we witness a significant increase in the number of new dwellings within strata schemes, it's essential to assess whether our current strata management practices are sufficient to handle the associated challenges. From potential conflicts among residents to the strain on resources and infrastructure, the implications of this rapid growth in strata dwellings are far-reaching and require careful consideration.

Today, we're joined by Michael Teys, an experienced consultant who specialises in strata management. With over three decades of hands-on experience in the field, Michael has a deep understanding of how strata systems work. He's also written several easy-to-understand books about strata management and has helped lots of strata communities with his expert advice.

Don't miss out on this opportunity to gain a deeper understanding of the evolving landscape of strata management – tune in now!

Episode Highlights:

00:00 - Introduction

01:07 - Who is Michael Teys?

01:48 - How does Australia stand out in terms of strata?

05:26 - Will Sydney continue to see more buildings deemed unsafe?

09:00 - Could individual past owners of buildings face lawsuits for building neglect in Australia?

12:03 - What can Australia learn from global solutions for building issues?

17:31 - The importance of having more proactive steps for Australian strata issues

21:19 - Why and how the government could potentially help in addressing strata issues

29:34 - What can be done to improve the strata property purchasing processes?

35:15 - What property investors and home buyers should understand about strata levies

36:29 - How do global policies tackle strata safety and developer accountability across borders?

39:37 - How can potential buyers obtain reliable safety information about strata properties?

44:49 - What strategies could be considered to ensure building safety remains a priority?

49:56 - Where to find hope amidst the challenges and discussions within the strata community?

52:50 - Michael Teys’ property dumbo

About Our Guest:

Michael Teys is one of Australia’s leading strata experts. He works for corporate owners of strata property, property professionals and strata managers providing advisory, research and training on complex strata issues. With over 30 years’ experience in strata titled property issues, Michael is now an advisor to corporate and institutional owners of strata property. He is a member of the City Futures Research Centre at UNSW and provides training to strata managers and allied property professionals.

Connect with Michael Teys:

• Website https://michaelteys.com/
• LinkedIn https://www.linkedin.com/in/michaelteys/

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